Reason for this visit

Estonia, as a leading market in the global cryptocurrency industry, has attracted numerous international crypto exchanges and fintech startups to register and operate there, thanks to its open attitude towards blockchain and digital currency technologies. The Estonian government actively explores and promotes the development of digital currencies, implementing relatively relaxed regulatory policies that create a friendly environment for the market, which has facilitated the rapid growth of the crypto industry. At the same time, as global regulations on cryptocurrencies become increasingly stringent, Estonia is also gradually improving its relevant laws and regulations, aiming to effectively prevent money laundering and other illegal activities while ensuring market transparency and stability. Therefore, understanding Estonia's current cryptocurrency regulatory framework, market environment, and development potential has become an important issue that investors and businesses cannot overlook. In an attempt to assist investors in gaining a more comprehensive understanding of Estonian crypto exchanges, WikiBit survey team determines to go to the country for on-site visits to local companies.

On-site visit

In this issue, the survey team went to Estonia to visit cryptocurrency exchange CoinsPaid as planned according to its purported regulatory address that Peterburi Tee 47, Lasnamäe Linnaosa, Tallinn, Harju Maakon, Estonia.

The investigators came to Peterburi Tee 47 in Lasnamäe Linnaosa in Tallinn of Harju Maakond, Estonia for an on-site visit to the exchanges office, and located two independent office buildings, including Capital Mill and Trade House, in the prosperous business district of the city. Additionally, the location boasts convenient transportation.

Upon arrival at the building Capital Mill for further investigation, the survey personnel spotted numerous offices for businesses and government. And there were three main entrances of the building, including A, B, and C.

Unfortunately, after searching the building thoroughly, the inspection team failed to discover any signs of CoinsPaid. In the meantime, they consulted the security officer on duty about the broker, and the officer conducted them to the directory and mailboxes for more details. However, no information related to the company was found.

Through the on-site investigation, it is confirmed that the exchange does not have a physical presence at the location.

Conclusion

The survey team went to Estonia to visit cryptocurrency exchange CoinsPaid as planned, but did not find the company at its purported regulatory address. It indicates that the company does not have a physical business office at the place. Accordingly, investors should be cautious about choosing the exchange.

Disclaimer

The content is for informational purpose only, and shall not be taken as a final order for making a choice.